Daily NAPTA Update 7.6.2023

Posted by Diane Macri | Jul 06, 2023 | 0 Comments


Property tax collection growth rate quadrupled from last year
National Mortgage News
The growth rate for property tax payments across the country increased by more than four times annually at the end of the first quarter, according to new analysis by the National Association of Home Builders. The year-long increase comes after a prolonged period of home-price growth thanks to a hot sales market, which drove property values up at a record pace in 2021 and early 2022.

The federal government is cutting back its office footprint
Business Insider
The federal government occupies 180 million square feet of space nationally, more than any other office user in the country. The reductions could empty millions of square feet at a time when offices are already reeling. State governments have also sought to cut offices, adding to the pain.

Commercial Real Estate Finds Rare Bright Spot by Campuses
The Wall Street Journal
Many office buildings sit mostly empty. Once-soaring apartment-rent growth has slowed and is falling in some places. But housing geared to college students at popular schools is a rare bright spot in the beleaguered commercial real-estate business.


Hartford luxury apartment owing $900,000 in taxes avoids auction
CT Insider
Negotiations between the city of Hartford and the Shelbourne Company have "indefinitely" postponed the auction of luxury apartments located at 50 Morgan St. The apartments, known as The Millennium, were on a list of properties set to be auctioned at a June 26 tax auction because of $898,758.68 in unpaid taxes through March 31, 2023.


Owner of Seminole Towne Center mall in Sanford owes more than $800K in property taxes
Yahoo News
Seminole Mall Realty Holding LLC, a subsidiary of New York-based Kohan Retail Investment Group — which co-owns Seminole Towne Center along with Hollywood-based 4th Dimension Properties — is delinquent $824,020 on 2022 property taxes as of June 27, Seminole County Tax Collector records showed.

Lee County property tax values impacted by Hurricane Ian
Wink News
Property tax values in Lee County for 2023 have been released. Did the devastation caused by Hurricane Ian impact the property value in Lee County? If it was, how much? Below is a breakdown, released Monday by the county's property appraiser, showing how values have shifted.

Gulf County sees highest ever taxable value
The Port St. Joe Star
This year's taxable value is the highest Gulf County has ever recorded, according to Property Appraiser Mitch Burke. Burke and his staff provided the county's 2023 preliminary taxable value to the Florida Department of Revenue last week, including real and personal property values and their changes from years prior.


State threatens Atlantic City with loss of property tax cut
Press of Atlantic City
The state has given City Council a choice: Pass the 2023 budget that includes a 5-cent decrease in the property tax rate by Friday, or lose the tax cut. "If the governing body fails to comply with the above deadline, I will prepare a CY 2023 municipal budget for the city and submit same to the (Local Finance) Board for final approval."


Flint Hills Resources reaches agreement with Nueces County Appraisal District
Corpus Christi refinery Flint Hills Resources has reached an agreement to settle lawsuits filed against the Nueces County Appraisal District from 2018 to 2022. Nueces County Chief Appraiser Ramiro "Ronnie" Canales told 6 Investigates Monday that agreement means local taxing entities such as Nueces County, Del Mar College, Tuloso-Midway Independent School District, and the Nueces County Hospital District will see a positive financial impact.

Corsicana City Council Rejects Appraisal District Budget
Not only does this budget increase the size of government and their ability to collect citizen's data, it uses our tax dollars to reward poor government performance. Corsicana has made it a priority to wisely steward tax dollars, as Corsicana was the only taxing entity in the county last year to cut taxes. This year's Appraisal District budget spends carelessly and recklessly, and they want to stick you with the bill.

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